City of Odessa Sales Tax Revenue is 65% more than budgeted at this point in the fiscal year

ODESSA, TX (KWES) - The City of Odessa received its June sales tax check in the amount of $5,545,957.30 including the Economic Development sales tax of ¼ cent.

The city will receive $4,436,765.84 and the Odessa Development Corporation, $1,109,191.46.

The City saw an increase in sales tax revenue with June's sales tax revenue total of $4,436,765.84 which reflects a $1,462,773.12, or 49.19% increase as compared to June 2017.

The year-to-date total sales tax revenue for fiscal year 2017-18 is up 65.50% or $15,001,393.67 as compared to budgeted amount expected at this point in the fiscal year.

In addition, the 2017-18 year-to-date amount is above the previous fiscal year-to-date amount by $12,337,593.47 or 48.26%.

The City has budgeted $30,765,079.00 in net sales tax revenues for this current fiscal year.

Sales tax revenue is generated by sales tax revenue from two months prior to collection, i.e., June's collection is based on April sales.

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